Archive

Archive for the ‘Finance’ Category

Art Laffer on POTUS Trump’s Federal Reserve Board Picks, Plus MH Market Updates

April 8th, 2019 Comments off

CNNmone4.8.2019ManufacturedHomeStocksMarketsReportsMHProNewsFrom across the left-right spectrum, there is surprise and push back on President of the United States (POTUS) Donald J. Trump’s proposed nominees to the Federal Reserve Board.  It’s a chess game, in part, as POTUS Trump is essentially using the nominees in part to hammer a message home that he wants lower rates.  On a day with modest movement in the markets, our focus will be on former Reagan administration star, Arthur Laffer and his interesting take on the 45th president’s nominees to the Fed of Stephen Moore and Herman Cain.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

LeftRightMediaSharylAttkissonDailyBusinessNewsMHProNews

Select bullets from CNN Money…

  • More trouble ahead
  • The analyst who foretold GE’s downfall thinks its problems are far from over
  • GE’s terrible day — in one chart
  • Warren Buffett weighs in on who should be the troubled bank’s next CEO
  • LIVE UPDATES AMC soars 7% on ‘Avengers Endgame’ ticket sales
  • US oil prices finish above $64 a barrel for the first time since Halloween
  • Why the remarkable US stock market recovery could just be getting started
  • Europe is making AI rules now to avoid a new tech crisis
  • Pinterest’s IPO filing disappoints
  • American Airlines cancellations reach into June because of 737 Max grounding
  • Larry Kudlow says Trump is not interfering with the Fed
  • Univision sells Gizmodo Media Group to private equity firm
  • Under Modi, India’s economy has grown $1 trillion. But lack of jobs is still an issue
  • The rules on CEO tweets weren’t made for Elon Musk
  • Boeing is about to reveal just how much the 737 Max grounding hurt its business
  • Facebook's CEO Mark Zuckerberg delivers a speech at the VivaTech (Viva Technology) show in Paris, on May 24, 2018. (Sipa via AP Images)
  • New Zealand’s privacy commissioner calls Facebook ‘morally bankrupt’
  • Get ready for awful corporate earnings
  • The frightening future of robocalls: Numbers and voices you know
  • What you can do right now to stop robocalls
  • What AT&T, Comcast and Verizon are doing about them
  • Perspectives: Why robocalls are about to get more dangerous
  • FCC: Nearly half the calls you receive this year will be spam
  • London gets world’s first 24-hour air pollution charge zone
  • Tesla is helping Fiat Chrysler meet EU emissions targets
  • We can’t rely solely on renewable energy yet, but there’s another way companies can fight climate change
  • GE bets on offshore wind as fossil fuels business stumbles
  • Shell quits major US oil lobby over climate change

Select Bullets from Fox Business

  • CVS, Aetna deal reversal would be ‘catastrophic’ to the industry: Judge Napolitano
  • US stocks mixed as industrials slide but tech shares gains
  • Felicity Huffman, 13 others to plead guilty in US college admissions scandal: Prosecutors
  • 10 cities in danger of a housing crash this year
  • Texas Tech banned smartphones amid NCAA tournament run: Report
  • Piscopo: Ocasio-Cortez’s fake accent ripe for ‘SNL’ parody
  • This is now the best state for job seekers
  • Duke ‘looking into’ Michael Avenatti’s allegation that Nike paid Zion Williamson
  • Boeing shares plunge after downgrade, 737 Max production being cut
  • Beto O’Rourke calling Israel PM Netanyahu racist a mistake: Joe Lieberman
  • WrestleMania transportation mess: NJ Transit blames WWE event’s long runtime for train delays
  • Nunes to send 8 criminal referrals to AG Barr this week
  • Here’s why Americans are optimistic about the housing market
  • Investment in US economy surges amid smaller tax refunds, National Taxpayers Union executive vice president says
  • Short credit history? How you can still earn a score of 800
  • Prepare next year’s tax filing now
  • $1.4B in unclaimed tax refunds to expire in April, IRS warns
  • Tax refunds: Top 5 ways Americans will spend their windfall
  • Trish Regan: Democrats need to stop spewing hate and work with Trump on immigration reform
  • Gas prices up, poised to go even higher as US mulls Iran oil waiver extensions
  • Stephen Moore is a pro-growth economic champion: Opinion

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance4.8.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

 

ArtLafflerPOTUSTrumpFederalReserveBoardPicksPlusMHMarketUpatesDailyBusinessNewsMHProNews

 

Short and sweet this evening.  He advised President Ronald Reagan, and current President Donald J. Trump.  Not speaking for or against Art Laffer’s points, just listen to what he and the panel on CNBC had to say about the 45th presidents nominees to the Fed.

 

See Related Reports for more on these Fed board moves and comments.

Related Reports:

Former Godfather CEO, GOP POTUS Contender Herman Cain to Join Fed? Plus, MH Stock Updates

Future Rate Signaling to Fed? POTUS Trump Wants Heritage’s Stephen Moore on Federal Reserve Board, Plus MH Stock Updates

National Association of Home Builders CEO Jerry Howard Declining Housing Affordability, Plus MH Market Updates

 

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

4.8.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Remarks by HUD Secretary Ben Carson to the Mortgage Bankers Association

April 4th, 2019 Comments off

RemarksHUDSecretaryBenCarsonMortgageBankersAssociationDailyBusinessNewsMHProNews600

Flashing back to 2016, among the former GOP contenders to announce their support for Donald J. Trump to become the 45th president was Ben Carson, M.D.

 

Flash-forward to the present.  Now HUD Secretary Carson has been an earnest and dependable supporter of President Trump and his agenda. While he has floated the notion that he may step aside at HUD after the 2020 race, there has never been any serious flap at HUD about the security of his tenure there.

Carson has stated his support for manufactured housing numerous times.  Part of that, on a practical level, must include financing options.  That is one of several topics addressed in his comments, below.

It is useful to see what Carson says to audiences other than manufactured home professionals.  Links to other reports that deal with Carson’s comments to senators or others are further below.  But let’s see what his prepared comments were yesterday to the powerful Mortgage Bankers Association (MBA), in Washington yesterday.

 

Remarks by Secretary Ben Carson
Mortgage Bankers Association National Advocacy Conference
Washington, D.C., Capital Hilton, April 2, 2019

 

As prepared for delivery. The speaker may add or subtract comments during his presentation. Provided by HUD to MHProNews.

Thank you, Bob, for those kind words. And thank you to the talented MBA staff for organizing this important conference, as well as to the many leaders, professionals, and pioneers in our industry here today.

To the more than 325 million men and women who call our country home, housing is not just a pillar of our nation’s economy – it is the foundation on which families, and their futures, are often built.

There are signs that this future looks as bright – or perhaps brighter – than ever before. Under President Trump’s leadership, America has witnessed historic highs in employment, job creation, and economic growth.

A recent Gallup poll reported that 69 percent of Americans expect to be better off this time next year than they are today. This financial optimism is not only a 16-year high, it’s within two percentage points of an all-time record.

But every doctor knows that a patient can look like a paragon of health, while latent and localized conditions go untreated underneath. If any part of the body is allowed to languish, every part of the body will eventually feel its pain. Our vital organs are all in it together.

So too it is with America. We are only the Land of Opportunity when opportunity is available to all. And HUD is tasked with a special mission to carry our nation’s new gains to the local doorsteps of vulnerable communities who need help most.

At HUD, our aim is to ensure every American has access to decent, safe, and affordable housing. Both HUD and the MBA share a common understanding: that improving access to capital is a critical driver of economic opportunity.

Today, I’d like to share some of HUD’s initiatives to increase access to financing across the housing industry, the many successes we’ve already begun to see, and how we are embracing responsible reform in the months ahead.

 

Opportunity Zones

One program expected to greatly increase access to capital while expanding affordable housing is the Opportunity Zones initiative.  

Created by the 2017 Tax Cuts and Jobs Act, Opportunity Zones are designed to stimulate economic development and job creation by incentivizing long-term capital investments in low-income neighborhoods. These Zones are structured to serve local communities for the long-term. Only investors who commit capital for five, seven, and ten years receive rewards. That means new growth becomes consistent growth and new jobs become steady jobs. 

When new businesses are “here today, gone tomorrow,” residents face an uncertain future. But when they know new businesses are “here today, here to stay,” residents can plan for the long-term future of their neighborhoods, including by applying for mortgage loans and becoming homeowners.

And Opportunity Zones are not a small, incremental initiative – they represent massive action to encourage financial capital to be invested in distressed communities.  

For perspective, the National Council of State Housing Agencies announced last month that its Opportunity Zone Fund Directory had expanded to nearly $24 billion dollars in anticipated investments. Of those $24 billion dollars, 91 percent of the funds are planning to invest in multifamily residential, student housing, mixed-use, hospitality, or other commercial development.

We have already heard positive reports from city officials that anticipated investments in Opportunity Zones have helped preserve and attract economic development into their localities. And these are still just the early days. The Department of Treasury estimates Opportunity Zones will attract more than $100 billion dollars in private investment. 

To ensure Opportunity Zones reach their potential, President Trump established the White House Opportunity and Revitalization Council, which I have the privilege to chair. The Revitalization Council consists of members across 13 agencies and will prioritize Opportunity Zones in a variety of federal efforts, including deregulation, grant funding, loan guarantees, infrastructure spending, and crime prevention.

By utilizing a single body to achieve interagency consensus – rather than having 13 separate departmental processes – the Revitalization Council can achieve faster resolution, and that means we can deliver much faster solutions.

 

LITHC Expansion

HUD is also adding positive incentives for the construction and sale of affordable homes by expanding HUD’s Low-Income Housing Tax Credit Pilot for multifamily home development.

This expanded initiative will streamline the processing of FHA insurance applications for projects with equity from the LIHTC program. It’s part of our commitment to further align our policies and underwriting towards supporting affordable housing production and preservation.

Because New Construction and Substantial Rehabilitation currently make up more than 40 percent of our total volume, we expect the expansion of our LIHTC Pilot to significantly increase HUD’s affordable housing volume.

More homes also create more home mortgages, which can contribute to the health of the market.

 

HUD Accomplishments in Preserving and Developing Affordable Housing

HUD is also working to increase the supply of affordable multifamily housing through a multitude of initiatives that support the critical infrastructure on which the mortgage market is based.

To spur local community reinvestment, we have partnered with local authorities and private businesses to preserve more than 100,000 public housing units. This public-private partnership, the Rental Assistance Demonstration, or RAD, program has generated close to $6 billion dollars in construction investment and created more than 100,000 jobs.

To advance economic opportunity, the Federal Housing Administration has served more than 650,000 homebuyers in 2018 alone, most of whom were low-to-moderate income earners. FHA has also supported the production and preservation of more than 120,000 multifamily housing units and provided $2.45 billion dollars in insurance for hospitals and residential care facilities.

And, to help communities recover from natural disasters, HUD has awarded nearly $28 billion dollars since last April through the Community Development Block Grant-Disaster Recovery Program to repair seriously damaged housing, businesses, and infrastructure. These grants represent the largest single amount of disaster recovery assistance in HUD’s history.  

 

Responsible Reform

In housing financing reform, HUD is supporting the Trump Administration’s efforts to reduce taxpayer risks, expand the private sector’s role, modernize government housing programs, and make sustainable home ownership for American families our benchmark of success.

 

The White House has set forth the following goals for housing finance reform:

• Ending the conservatorships of the GSEs upon the completion of certain specified reforms;

• Facilitating competition in the housing finance market;

• Establishing regulation of the GSEs that safeguards their safety and soundness, while minimizing the risks they pose to the nation’s financial stability; and

• Ensuring the Federal Government is properly compensated for any support it provides to the GSEs or the secondary housing finance market.

 

The White House has called for HUD’s Reform Plan to include several objectives, including:

• Addressing the financial viability of the Home Equity Conversion Mortgage program; 

• Assessing the risks and benefits associated with providing assistance to first-time homebuyers;

• Defining the appropriate role of the FHA in multifamily mortgage finance;

• Diversifying FHA lenders through increased participation by registered depository institutions;

• Enhancing GNMA program participation requirements and standards to ensure its safety and soundness; and

• Reducing abusive and unsound loan origination or servicing practices for loans in the GNMA program.

 

HUD is also promoting fiscal responsibility in the real estate finance market by ending irresponsible government obligations, while enabling a pathway for responsible citizens to become homeowners.

One such example was our decision to discontinue the FHA’s insurance of mortgages on homes that carried PACE liens. Through the PACE program, homeowners could obtain financing to make improvements to their homes to increase the home’s energy efficiency.

But FHA insurance not only put taxpayers at risk by allowing PACE liens to be placed ahead of the mortgage itself in the event of a default, it strongly threatened secured lenders by eroding the underlying mortgage collateral.

Further, PACE assessments were far less comprehensive than traditional mortgage financing products, and therefore lacked the same level of consumer protections. The FHA’s involvement with accepting properties with PACE assessments may have even indirectly helped to overshadow potential consumer abuses.

HUD appreciates that our decision to promote fiscal responsibility in this case was met with positive support by the MBA. Given the substantial risk that PACE loans represented to the FHA’s Mutual Mortgage Insurance Fund, I’m also reminded of an early lesson from medicine: “To treat a sick patient, the doctor has to stay healthy, too.”

 

Conclusion

While HUD is leading the fight to ensure decent, safe, and affordable housing for all Americans, we are grateful for the continued feedback and thought leadership on housing policy offered by institutions such as the MBA.

Solving affordable housing challenges requires a team effort. It’s been said that, “the bigger the dream, the more important the team” – and few ambitions are more compelling, or necessary, than that of the American Dream.

HUD looks forward to continuing to work alongside the industry participants here today, so our common vision is a lived reality for all who call this great nation home.

Thank you, and I look forward to your questions.

 

###

 

See related reports, further below the byline and notices. That’s this evening’s “News through the lens of manufactured homes, and factory-built housing.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

“A New Era of Cooperation and Coordination,” is Promised by HUD Secretary Carson, Saying “I Hear You”

“Move, Open, Live” De Rose Industries & Senator Thom Tillis’ Mobile Home Comments

HUD Secretary Ben Carson – Manufactured Housing Historic Results – Words, Deeds, and Metrics

HUD Secretary Ben Carson on Opportunity Zones, Revitalization, DROPS 2020 Announcement, Plus Manufactured Home Stock Updates

Is POTUS Trump Racist? “Here Today, Here to Stay” – HUD Secretary Ben Carson Sounds Off

Greener, Stylish Manufactured Homes – Hidden Facts in the Washington Post Manufactured Housing Narrative

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

MHARR Board Holds Highly Productive Meeting — Adopts Bold New Initiatives

 

 

 

 

 

 

 

 

 

Under Scrutiny, Giant Amazon Pivots, But What About Berkshire’s Manufactured Housing Brands? Plus MH Market Updates

April 3rd, 2019 Comments off

CNNmone4.3.2019ManufacturedHomeStocksMarketsReportsMHProNewsOnce even a friendly dog is given a bone, it may not let go without a serious struggle.  Ponder that metaphor for the next few minutes, as the Daily Business News on MHProNews briefly spotlights this evening an interesting contrast between the behavior of giant Amazon and giant Berkshire Hathaway brands in manufactured housing, after each have come under scrutiny.  That will be our focus report for this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

FoxCNNBloombergCNBCLeftRightMEdiaDivideManufacturedHousingIndustryNews

Select bullets from CNN Money…

  • Another scandal rocks Facebook
  • Hundreds of millions of Facebook records exposed on Amazon’s cloud computing services
  • Timeline: Facebook’s bottomless pit of scandals
  • LIVE UPDATES Nasdaq notches five wins in a row as chip stocks boom
  • Mohamed El-Erian says market rally could last another year or two
  • GameStop’s future is streaming
  • WeWork buys office cleaning and management startup
  • SEC sides with Exxon by blocking major climate vote
  • Silicon Valley has a powerful defender in antitrust fight: the Koch network
  • Elizabeth Warren says CEOs should face jail for negligence in scandals
  • GE bets on offshore wind as fossil fuels business stumbles
  • NYT Mag: Fox chief Lachlan Murdoch texted support to Tucker Carlson after host’s anti-immigration comments
  • ‘The City’ launches in NYC with stories about corruption and subways
  • Elon Musk’s battle with the SEC heads to court
  • Rihanna’s Fenty pulls ‘Geisha Chic’ highlighter after social backlash
  • Warren Buffett wants to make an ‘elephant’-sized acquisition
  • Ford will introduce 30 new models in China over 3 years
  • Self-driving cars are now on the streets of Hamburg
  • Vehicles of all sizes are forcing drivers to slow down
  • Europe will require carmakers to install speed limiters from 2022
  • The auto industry barely survived the Great Recession. Now it faces its biggest hurdle yet
  • Amazon is slashing prices at Whole Foods
  • Amazon expands in Austin with 800 new tech jobs
  • Volkswagen and Amazon team up for cloud computing
  • Amazon gets an edge with its secret squad of PhD economists
  • The world is coming after Silicon Valley. Tech companies must evolve to survive

Select Bullets from Fox Business

  • Walgreens CEO lost $1.2B in one day
  • Trump steps up criticism of Fed’s Powell: ‘I guess I’m stuck with you’
  • Key Democrat pushes new tax on wealthy, targeting unrealized capital gains
  • Mick Jagger’s reported heart surgery is a ‘miracle procedure:’ Dr. Marc Siegel
  • CFOs believe economic slowdown coming to US – and soon
  • What you don’t know about your 401(k) can cost you
  • Lawmakers advance comprehensive retirement reform: What to know
  • ‘Mighty Ducks’ actor Brock Pierce used bitcoin to buy $1.2M home in Amsterdam
  • Marvel’s ‘Avengers: Endgame’ shatters ticket pre-sale records, crashes websites
  • How much you need to be in the top 5% in every state
  • WATCH: Ford unveils new 2020 Escape that underpins sales turnaround strategy
  • Rapper 50 Cent sells massive Connecticut mansion at 84% loss
  • FDA probes whether e-cigs cause seizures
  • Oracle’s explosive database business is smart, humanless, CEO Mark Hurd says
  • Elizabeth Warren proposes bill to make it easier to jail executives for company abuses
  • Google employees demand removal of conservative member from AI council
  • Amid border shutdown threats, Trump may keep trucking lanes open
  • First ever West Point Mint-marked quarters released
  • Whole Foods is slashing prices today in a bid to dissolve its pricey image
  • Zion Williamson sneaker deal: Nike, Adidas bidding war could be biggest ever, exec says
  • Alliance of American Football suspends operations after less than one season
  • Kristaps Porzingis sponsors Adidas, BodyArmor laying low amid rape investigation
  • Investing in families now is a down payment in our nation’s future[overlay type]
  • Investing in families now is a down payment in our nation’s future
  • US must challenge France’s shakedown of American tech companies
  • Biden’s problem is advantage to Trump, left-wing Democrats: Varney
  • Can GameStop survive cloud gaming?
  • Signs the hiring boom may be losing steam; online real estate giant Zillow getting into the mortgage business
  • Former Shiloh, Israel Mayor on Trump’s border shutdown threat: Have to think long term, security is number one

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance4.3.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

 

UnderScrutinyAmazonPivotsButWhatAboutBerkshiresManufacturedHousngBrandsPlusMHMarketUPdatesDailyBusinessNewsMHProNews

Amazon quietly removes promotional spots that gave special treatment to its own products as scrutiny of tech giants grows

 

For years, the Daily Business News on MHProNews has taken not just an industry specific view of trade journalism, but also a broader view of how other events may shed an interesting or useful light upon the manufactured home industry.

No where has the been better reflected that in these evening market reports.  In 7-10 minutes (+/-) or so depending on your reading speed, one can:

  • scan the major headlines from both sides of the left-right (CNN-Fox) media divide,
  • see the closing tickers the major indices,
  • check out the closing numbers on manufactured housing connected tracked stocks.
  • Lastly, and hopefully not least, we look at some topic that in our editorial view ought to make industry investors and professionals stop and think.

This evening, we spotlight Amazon, and a report on left-of-center CNBC.

As a quick reminder to longtime readers, or a heads up to those who may be new to this feature, Amazon’s Alexa Fund took the plunge last year into an investment in Plant Prefab, a factory-built housing venture.  In doing so, they announced that in their estimation, the prefab (factory-built) housing industry’s annual market potential was $330 billion dollars a year.

Let that sink in, $330 billion annual potential for manufactured homes, modular housing, and other forms of prefabricated construction.  That’s not an outlandish estimate, given that in 2018, some 1.6 trillion dollars was spent on purchases of new or existing housing. Yet manufactured homes closed the year with under $8 billion in new home sales?  Who else has even spotlighted this stark contrast in MHVille, save MHProNews?

 

2018DataShareofHousingMarketManufacturedHousingInfographicDailyBusinessNewsMHProNews612

We’ve also been tracking not just specific concerns about possible antitrust or other alleged illegalities and/or unethical business practices in the manufactured housing industry that involves Berkshire Hathaway owned brands, specifically some based in metro Knoxville TN, as well as the Manufactured Housing Institute (MHI), based in Arlington, VA. We’ve also monitored other instances where antitrust issues have been raised about others outside of MHVille.

Among those are the so-called FAANG stocks.

 

FAANGFrightBitsFAANGDragsEquitiesPlusMHMarketUpdatesDailyBusinessNewsMHProNews

So, it was through that lens that this report on CNBC caught our eye tonight. Amazon has been under fire for months.  Whatever you may think of Senator Elizabeth Warren, her politics or campaign hopes, she has called out the tech giants for antitrust issues.  Senator Bernie Sanders has named Amazon by name in blasting their business practices.

While defending themselves, of course, what has Amazon done about some of the issues raised about them?

According to the sources that CNBC cites, they’ve pivoted.  Amazon has toned down some of the more potentially egregious examples of bias on their own platform.

 

Here are the key examples, per CNBC.

  • Amazon has significantly scaled down or relocated promotions of its private label products in recent weeks.
  • These promotions were exclusively reserved for Amazon’s own private label products and appeared in highly visible areas of the site, like the top of search results or next to the “buy box” of a competitor’s product page.
  • The change follows increased regulatory scrutiny of tech giants in recent months, including Sen. Elizabeth Warren’s call for breaking up big tech companies.

They provide this before and after look at this very issue.

AmazonPromotionalChangesScrutinyElizabethWarrenClaytonHomes21stMortgageBerkshireHathawayBrandsDailyBusinessNewsMHProNews

 

Now, compare that to what has occurred in manufactured housing and the issues that mainstream media and/or MHProNews has raised – most notably about what we’ve dubbed the Omaha-Knoxville-Arlington axis.

 

Instead of backing off, there is evidence, per our sources, that Clayton, the Berkshire lenders, and MHI have doubled down on their purportedly problematic behavior.  Some examples:

  • The bruhaha over Heath Jenkins, the #MHM, Regional Enterprises, and Clayton Homes
  • MHI completely ducking the issue of allegations of working with the GSEs to redirect lending away from the bulk of manufactured housing industry produced houses, to only a few ‘new class’ of homes manufactured housing that Clayton Homes has promoted.
  • The later has drawn quiet ire of even non-MHARR member producers, one of whom lamented, ‘What Are We, Chopped Liver?
  • We don’t want to make ourselves part of the news, but facts are facts. MHI and/or their affiliates have hired more than one attorney to harass MHProNews in ways that no one else in the industry’s trade media is being treated. While one could say, ‘we have it coming to us’ for raising issues about MHI et al, one could just as easily say, that it is MHI and their masters behaving in a quite different way that Amazon has just reportedly done.  If there is nothing to hide in Omaha-Knoxville-Arlington, why don’t they just publicy address the concerns and prove us wrong???

Among the most common comments raised by industry pros talking to us face-to-face in Tunica, MS last week were these:

  • There is fear among industry independents that they might be next for some under-handed trick by a Berkshire brand.
  • Thank you comments from numbers of industry independents who respect that MHProNews has tackled such issues in a way that no one else in the industry has done.

These are perhaps among the reasons why MHProNews dominates in manufactured home trade readership.  We strive to follow the facts, evidence, and the money.  We ask the hard questions, and give MHI, Clayton, 21st, et al, a chance to respond. Up until about 2 years ago, they did respond, routinely and promptly.

But as the questions got tougher, they opted to go quiet, which is of course their constitutionally protected right.

We’ll wrap this summary up this evening by pointing readers to related links below, but also by saying the following.

As tomorrow’s shipping/production report will reflect, the industry is still sliding, during an affordable housing crisis.  There are only a few possible logical options.

  • The Omaha-Knoxville-Arlington (OKA) axis and their allies are incompetent. They don’t know how to sell affordable manufactured homes during an affordable housing crisis.
  • The OKA axis are posturing efforts to address concerns that for whatever reasons are not working. This is what MHARR called the “Illusion of Motion.”
  • The Omaha-Knoxville-Arlington axis have a plan, and they are acting upon it. That plan does not short term include short term steps that will fix the headwinds that are buffeting manufactured housing.

Certainly, other possible combinations of bullets exist that explain the failure of MHI to successfully address issues that are slowing manufactured home sales.

Every stockholder or possible investor who looks at the biggest brands in the industry must ask themselves, what is going on in manufactured housing?

Every public official that is concerned about antitrust or other issues that impact affordable housing, should likewise be seeking answers to issues.

The industry’s professionals are increasingly waking up to the worries that some level of artificial restraints on trade are occurring. Why?  The most logical answer is that larger companies have been consolidating smaller ones at a discounted price as a result of such alleged misbehavior.

Instead of addressing these issues head-on, the Omaha-Knoxville-Arlington axis have used diversionary tactics and more posturing.  That is their right to not deal with these matters.

But it is our right to raise the concerns, because if the trend lines continue, more manufactured home industry firms will be sold for less than their intrinsic value or may fail altogether during an affordable housing crisis.

As usual, we invited the powers that be in MHVille to respond publicly to these allegations. We note for the record that several federal investigations are underway, per mainstream and our own sources.  The views of this mainstream news video – from Clayton’s hometown media – have roughly doubled since we began to spotlight it.

 

 

And that last point may help explain why they say nothing.  Whatever they say may be used against them later in a court of law.

That is the day that MHProNews seeks to hasten.  Rip the Band-Aid off the cover-ups and echo chamber praise of the OKA axis by others in industry trade writing.  Pull back the veil on beyond what our reports have done on the machinations that have for too long plagued our industry.  That can only be done by three broad methods:

  • Federal and/or state investigators,
  • Plaintiffs’ attorneys,
  • More serious mainstream media journalism looks at this issue not superficially, but specifically on topics that MHProNews has already begun. See some of those, linked in the related reports, below.

The good news is this. The potential for manufactured housing to soar rather than snore is strong, per Amazon’s Alexa Fund analysis. For those with the moxie and the chutzpah, they can go after the big boys in the marketplace, because while some are trying to slow things down, others could in theory roar past them.

We don’t speak for others, but merely note that Legacy Housing, for example, is investing in retail outlets.  They already have factories and are to a degree vertical already.  They believe in the future of the industry.  Skyline Champion’s IR packet points to the industry’s underperformance, as part of the potential upside.

We believe the day will come, perhaps in the near term, when the alleged manipulations of the manufactured housing marketplace will be front-page news, and could land some into deep legal gomul.

Should that day come, what is swirling around Cavco may seem like a picnic. “We Provide, You Decide.” ©

Related Reports:

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

“Mobile Home Militia,” Retail/Production Sources, Sound Alarm Against Clayton Homes, CMH, New “Anti-Competitive Practices” Allegation

 

Profiting & Correcting – Manufactured Housing Traps, Pitfalls and Swindles

Cavco Industries Announces Latest Executive Level Changes

Gannett Media Exposés, MH Community Owner Moves Sparks Outrage – IEDs of Manufactured Housing

Historic Manufactured Housing Industry Decisions Were Made Here on 3.27.2019

State Level Shipment Data Continues to Flash Warning Signals for New HUD Code Manufactured Housing Sales

Independent MH Communities, Retailers – NAMHCO’s Susan Brenton Says What Fueled Break from Manufactured Housing Institute (MHI)

Trump Administration Move on Housing Financing Draws Sharp Manufactured Home Association Response

MH IDEAL, Understanding Manufactured Housing’s Choke Points, Tunica Show Day 3

Spreading City Ban on Individual Lot Placements Threatens Independently Owned Manufactured Home Communities, Retailers, Residents, and HUD Code Producers

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

Democrats, Republicans Agree – “Manufactured Homes Can Play a Vital Role in Easing” the Affordable Housing Shortage

MHI CEO Dick Jennison’s Pledge – 500,000 New Manufactured Home Shipments

 

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

4.3.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

“Fight Like Hell” for Independence, Says Trustee – Manufactured Housing Inspiration?

April 3rd, 2019 Comments off

 

FightLikeHellForIndependenceSaysTrusteeManufacturedHousingInspirationDailyBusinessNewsMHProNews600

The story from the Boston Globe has nothing on the surface to do with housing, much less factory-built housing. But it had much to do with independence, and the willingness to fight in an arguably increasingly monopolistic, manipulated or ‘rigged system’ society.  Who says? The New York Times, see the column, linked here.

 

A snapshot from outside of our manufactured home industry is worthy of a few moments consideration to gird you or others as to the nature of the struggle – and the inspiration needed – to the good fight for independence.  Because manipulation and ‘rigged systems’ are not only found in our industry, they are increasingly evident elsewhere too.

Here’s what the left-of-center Boston Globe sent to the Daily Business News on MHProNews yesterday, and we’ll then look at what this tale should inspire in our industry’s professionals, investors, and others keen on affordable housing for millions of Americans.

 

BostonGlobeTwoTrusteesQuitDiscordHampshireCollegeFutureDailyBusinessNewsMHProNews

Two Hampshire College trustees have resigned in recent weeks, a result of the increasing acrimony enveloping the board as it charts an uncertain future for the liberal arts school.

Gaye Hill, the board chairwoman, resigned this week, saying she had become a lightning rod. Another trustee, Mingda Zhao, also stepped down, saying he was forced out.

Zhao’s resignation letter offers a hint about what’s next for the private Amherst college. It says board leaders seem to be pushing for the school to close and be acquired by another institution. But he said it is also possible to “fight like hell” to keep the school open and independent,” said the Boston Globe, in an article linked here.

MingdaZhaoHampshireCollegeDailyBusinessNewsMHProNews

 

What Zhao is describing, per the Boston Globe, is what could be called a backstab of the college by various people with ‘special interests,’ including other members of its own board of directors. Stop and think. How is that different than the Manufactured Housing Institute (MHI) being accused of betraying the interests of the independents in the manufactured housing industry?

 

Yesterday two different reports came into MHProNews from two different sources that represent different parts of the manufactured housing industry.  One came in from NAHMCO, the National Association of Manufactured Housing Community Owners. Another came in and had already been published from the Manufactured Housing Association for Regulatory Reform (MHARR).  ICYMI, see the linked text-image box below for that report.

 

Historic Manufactured Housing Industry Decisions Were Made Here on 3.27.2019

 

While entirely different, each one reflects a vote of no-confidence by their respective associations and members in the so-called leadership of Arlington, VA based MHI.

Washington, D.C. based MHARR cites post-production issues that the see MHI as having not only failed at, but arguably having manipulated against the interests of the majority of firms in the manufactured home industry.  Among the points they made was diversion of Duty to Serve (DTS) financing by the Government Sponsored Enterprises (GSEs) away from the majority of manufactured homes into an untested program promoted by industry giant Clayton Homes. Clayton, a Berkshire Hathaway brand along with others in the manufactured home industry, is widely seen as dominating MHI, along with other ‘big boy’ companies, as MHI award winner Marty Lavin, JD, has put it.

NAMHCO also cited DTS yesterday and the need to obtain more market rate financing. The NAMHCO statement bears some clarifying, which MHProNews plans to do in the days ahead before publishing their full document.  But it is noteworthy that NAMHCO – still in its infancy – and MHARR, decades established, de facto or explicitly take a viewpoint contrary to the happy talk fed by MHI to their members and state association affiliates.

 

Why Is There a Need to Fight to Implement Existing Laws?

That existing laws have to be fought to get them properly implemented is itself an outrage. Manufactured housing enjoys some of the finest federal laws that consumers or the industry’s honorable professionals could want.

The reality is that those laws are not being implemented. Cities and local jurisdictions are increasingly limiting or banning manufactured housing. And when one pulls back the veil on why those laws are not being implemented, time and again, there is evidence that a Berkshire brand or other MHI connected firm is benefiting at the expense of independents.

Barbara Hames of Hames Homes in Iowa may or may not have thought much about the fact that Havenpark Capital is an MHI member. She may or may not have thought much about how the apparent collusion between 21st and Clayton Homes, with no warnings from MHI, arguably harmed the interests of the communities she has now sold. Would Hames have sold at all, in the absence of the market manipulation by 21st, Clayton Homes, and Warren Buffett led Berkshire Hathaway documented at the link here?

 

Where Was The Buffett Mantra in Tunica Last Week?

What independent industry professionals and others must consider is this question. When Warren Buffett preaches the importance of protecting a firm’s reputation, why did Clayton, 21st and MHI all decline to attend the meeting of independents? Those independents wanted to hear first-hand what the counter argument might be to the documents and video linked above and here. Those independents wanted to hear that directly from the horses mouth.

Why did Clayton, 21st, MHI, Fannie Mae, et al stay silent?

Those manufactured home industry independents – including representatives from MHARR and NAMHCO.  They and those in attendance reflected the interests of some 200 industry locations.  They were there to begin the process that NAMHCO started some 2 years ago, or that MHARR began decades ago.

Like Zhao urged those that want to save their college from a takeover, the independents of manufactured housing must “fight like hell” if they want to stay independent.  How else will they survive the purported market manipulations and failures to act that the Omaha-Knoxville-Arlington axis and their allies stand credibly accused of, and failed to respond to once more in Tunica last week. Their trade media surrogates likewise opted not to attend, is it any surprise?

Susan Brenton told the independents there at Tunica that she saw value to their doing what NAMHCO has already started. It is worth noting that NAMHCO, as a post-production association, has a D.C. lobbyist, but not Washington metro office at this time.  That’s a reminder that a post-production trade group has no specific need for a costly D.C. metro office.

While there are obvious expenses to forging a new non-producers trade body, it is modest compared to the potential upside. The ‘Axis’ in manufactured housing obviously hopes it is never formed, as former MHI chair Nathan Smith quickly slammed NAMHCO in a written statement a few months ago, as the article linked further below the byline and notices reminds readers.

Affordable housing isn’t a partisan issue. It matters not if the person fighting for affordable manufactured homes is a Democrat, Republican, or an Independent. That is underscored in another article linked below.

Democrats, Republicans Agree – “Manufactured Homes Can Play a Vital Role in Easing” the Affordable Housing Shortage

The fear tactics, restraint of trade, manipulation of access to financing and other methods arguably being employed by specific Omaha-Knoxville-Arlington connected brands have arguably cost the industry’s professionals tens of billions of dollars since Warren Buffett made the move in 2003 to buy Clayton and it’s affiliated lenders, and control other organizations.

Fortunately, Berkshire has the deep pockets to pay those billions. Instead of proposing problematic or unconstitutional wealth taxes, and other floated notions by 2020 candidates, why don’t they focus their energy and talents on something that is doable, legal and useful?

 

Who Will Act? Will Senator Elizabeth Warren, and/or the Trump Administration Act to Restore Open Markets, Thereby Supporting Affordable Manufactured Homes?

 

Why not break up Berkshire, do whatever the law allows with MHI, and fine them billions as the EU has Google for violations of antitrust and other laws?  Why not make an example of them, so that others won’t be tempted to so manipulate this industry or any other ever again?

As independents begin the process of organizing, the time is now.  Like Zhao suggested in his scenario, one must fight like hell, for a heavenly cause.

That’s this morning’s first look at “News Through the Lens of Manufactured Homes, and Factory-Built Housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

DTS Manufactured Home Lending Committee Member Says MHI in “Unholy Alliance” to Divert Needed GSE Support Away from Manufactured Housing

White Collar Shakedown, Fear, Hobbs Act, and Manufactured Housing Independents Struggles

 

State Level Shipment Data Continues to Flash Warning Signals for New HUD Code Manufactured Housing Sales

“Mobile Home Militia,” Retail/Production Sources, Sound Alarm Against Clayton Homes, CMH, New “Anti-Competitive Practices” Allegation

Examining Derek Thompson’s Atlantic Report on ‘Mobile Home’ Retail Market as Fastest Dying Business In America

Restraint of Trade, Manufactured Housing Institute, Clayton Homes, 21st Mortgage, Vanderbilt Mortgage, and Antitrust Law

Errata, Apologies, Explanations, Tunica Talk, and Manufactured Housing

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

 

Sun Tzu – Ultimate Manufactured Home Freedom Alliance

 

 

 

 

 

 

 

Gannett Media Exposés, MH Community Owner Moves Sparks Outrage – IEDs of Manufactured Housing

April 2nd, 2019 Comments off

 

GannettMediaExposeMHCommunityOwnerSparksOutrageIEDsManufacturedHousingHavenparkCapitalPartnersMHProNews

Given the nature of the internet, bad news in one part of the country travels nationally and globally. So, while this specific incident may or may not seem to be in your market(s), or that of some professional that you know, this Gannett Company media series of exposés could well cost you potential customers.

 

Even if you aren’t in the manufactured home (MH) communities’ sector (MHCs), given how interconnected manufactured housing is, this report will – properly understood – reveal real-world impacts on honorable businesses and investors.

This vexing series is obviously causing angst among hundreds of residents that these stories covered.

 

 

In the American Heartland…Where Politicians Are Criss-Crossing Their State

In a series of reports by Gannett owned Iowa City Press Citizen and the Des Moines Register reflects the outrage by residents who are being hit with rent increases reportedly over 50 percent that will impact them this summer.

Residents at Golf View Mobile Home Court in the Iowa City suburb have been notified by Utah-based Havenpark Capital that they will see their rent spike from $284 to $450 on June 1 — a 58 percent increase,” wrote Ian Richardson and Zachary Oren Smith on March 29, 2019.

Havenpark reportedly did more in another community they acquired. “When the new owners of Midwest Country Estates in Waukee taped notice of a 69 percent rent increase on the doors of residents last week, they were doing the same thing at another recently purchased mobile home park in North Liberty.”

George W told the Better Business Bureau (BBB) on 02/07/2019 that, “Havenpark Capital bought eight Value Homes LLC parks in Mid-Michigan. Our rent increase (including new fees) included a 40%+ hike. Every communication from them states, “we are going to do amazing things.” Nothing amazing has or will happen. Our property manager even encourages us to contact our State Representatives and expresses displeasure in the company’s greedy business practices. Meanwhile, a whole lot of people on fixed incomes are hurting to pay their bills. Some are having to sell their homes and move.”

So, when the Gannett-owned newspaper’s journalists reported the quotes cited herein, they underscore a pattern that complaints to the BBB had already established. The bullets below reflect three quotes from an article linked here.

  • Don Lund, who’s lived at Golf View for 21 years, told the Press-Citizen he’s worried about how his current income — $700 per month from disability and about $160 from newspaper writing — will be able to handle the increase.
  • Most people buy a trailer ’cause we can’t afford a house,” said Lund, who was born without hands or feet. “I spent $40,000 on this back in 1997, and it took 20 years to pay it off.”
  • In Waukee, 91-year-old resident Arletta Swain said she’s lived in the mobile home park for nearly 50 years, and this increase will “take me right down to my last dollar.”

Or ponder the impact on residents, prospective buyers – and thus independent businesses – that reading the following bullets pulled from this link here.

  • Alex Kornya, assistant litigation director with Iowa Legal Aid…,which offers free civil legal assistance to the elderly, low-income, veterans and other vulnerable groups, sees a “high proportion” of people coming to its office with mobile home-related issues.
  • Rent will be going up to protect our community,” the letter [from Havenpark Capital] says. “If the rent did not go up, the land where Midwest Country Estates sits today would have been more valuable if it were changed into apartments, or a large retail store, causing all of our residents to be evicted.”

 

HavenparkCapitalLogoHavenparkCapitalPartnersWebsiteDailyBusinessNewsMHProNews

 

Havenpark Capital Partners Website

We presently own and operate 25 communities totaling approximately 5,000 home sites. We continue to source properties meeting our investment parameters and offer qualified investor access to a geographically diversified portfolio of properties through private fund offerings.” So says the Havenpark Capital Partners website.

They also stated that their investment criteria is as follows.

  1. 100+ Home Sites
  2. Located in a Metropolitan Area of 100,000+
  3. 3-5 “Star” Asset Quality

 

What the Better Business Bureau (BBB) Says About Havenpark

BBB File Opened: 5/31/2018
Years in Business: 3
Business Started: 1/5/2016
Business Started Locally: 1/5/2016
Business Incorporated: 1/5/2016 in UT
Type of Entity: Limited Liability Company (LLC)

The BBB currently rates this firm as a D+.

 

HavenparkCapitalPartners4-2-2019DesMoinesRegisterDailyBusinessNewsMHProNews600

 

Another Comment from the BBB, and Statements from MHC Seller Barbara Hames

Horrible company! They come in added $100 to our rent, then added water bills on a well, and sewer charges and even school tax. Anyone looking to move into anything these greedy money grubbers own…DON’T. They didn’t add a clubhouse, child play area nothing of any real benefit. This area has many senior citizens who live here who will probably have to give up their meds to live here.” – Shar K, 12/11/2018, per the BBB.

 

Among the sellers to Havenpark Capital described by the Gannett owned newspapers was Barbara Hames, of Hames Homes.  Here is a video from their website.

 

 

Barbara Hames told the Press Citizen that they were not looking to sell two of their communities.  For half-a-year, Hames said they were getting 2 to 3 calls a week from potential buyers.

 

 

Hames, a prominent and popular figure in the Iowa Manufactured Housing Association (IMHA), explained the decision to sell to Utah-based Havenpark Capital in these terms.

  • We were absolutely not looking to sell….It is a family business here.”
  • The DNR informed us that Sunrise (Village) would need to be upgraded in a year or two and West Branch would eventually need to be upgraded.” DNR is short for the Iowa Department of Natural Resources.
  • The reason the offer [from Havenpark] was tempting was both [manufactured home land-lease communities] in Iowa City and West Branch would cost a lot to bring into full compliance.”
  • Hames described the hike in site fees as “surprising…”
  • Even if they raise the rent, they also invest a lot of money in the parks they purchase,” Hames told the Press Citizen.
  • The prices in eastern Iowa have been artificially low for years,” Hames said, which likely made such hikes inevitable.
  • When supply is bigger than the demand, prices go down,” Hames said, who explained that the lack of other credit sources after the fall of Green Tree Servicing forced them to establish their own lending. “The supply of manufactured home sites has been high because of the lack of financing for people wishing to purchase.”

Knowingly or not, Hames has described a pattern that the Daily Business News on MHProNews has tracked for years. More recently, our analysis reflects that several of these issues arose in the aftermath of events described on MHLivingNews at this link here. As Berkshire Hathaway owned 21st Mortgage and Clayton Homes built their respective strategic moats, thousands of retailers were tipped out of business.  That in turn had a cascade effect that impacted communities like Hames’ and thousands of others too.  After all, it was those retailers that used to sell homes into communities that kept them near capacity, and allowed property owners to maintain their locations.

The well-liked Joanne Stevens was reported as the broker in the deal with Havenpark.  Per her website, “NAI Iowa Realty Commercial is proud to be part of the Berkshire Hathaway family of companies.”

So, on at least two levels, Warren Buffett led Berkshire Hathaway brands are in the mix of what has transpired in these Iowa manufactured home communities.

 

The Intersection of Mainstream Journalism Realities and Manufactured Housing

Contemporary local media journalists have numerous pressures and limitations placed upon them.  As the number of writers and editors declines, due to dwindling ad revenues lost to competitors such as Google or Facebook, a journalist often lacks the time to dig deeper into an issue than may have been the case in years past.

To generate reader interest – which yields more clicks or sold newspapers – media sources tell MHProNews that they have to focus on controversy and attention-sparking headlines and stories.

So finer details, correct terminology, mitigating circumstances, or other nuances may not rank as high as it otherwise might have in years gone by. It’s not fake news. But it is news that by accident, media dynamics – or at times, an unstated agenda – often reflects poorly on manufactured home living.

 

PublishingHandPickedInformationCanBeWorsefortheImpressionItMakesOnManufacturedHomesandOurIndustryThanStatingEntirelyFalseInfo-BradLovinNCMHA

Sometimes media has an agenda, and Brad Lovin’s comment is quite apt. But in other occasions, journalists pressed for time may not be able to dig deeply enough to understand the often subtle or complex dynamics at play. But the impact of news articles is real in either case.

 

For example, these bullets from the same Gannett media source.

  • Resident Janet Hook said…”We’re sitting ducks is what we are…”There’s a lot of us out here who don’t know what we’re going to do.”
  • An NAI Iowa Realty Commercial survey of 13 mobile home parks in the Des Moines metro from October 2018 showed rents ranging from $244 to $596 per month, with an average monthly rent of $436.
  • Joanne Stevens, an NAI Iowa Realty agent who helped with the Midwest Country Estates sale, said owners that want to stay in the mobile home business long-term need market rate rents to keep parks operational and well-maintained.

Nowhere is the Berkshire Hathaway connection to these events explicitly mentioned. Nowhere in these reports will you find a more in-depth explanation for how Berkshire owned brands arguably helped fuel the issues that caused these communities to lose occupancy for years.

As regular and detail-focused MHProNews readers know, the industry’s business model was disrupted in large measure by the events documented here.  There rest are details and commentary.  It is the kind of nuance – or even in-your-face-facts that mainstream journalist who are not well versed in manufactured housing, for the reasons noted above, can easily miss.

TerminologyMattersBecausetheTerminologyDescribestheConstructionStandardsHomeBuiltToSteveDukeLMHAaMHLivingNewsMHProNewsBiggerPocketsSunshineHomesRedBayAL

The terminology matters because
the terminology determines the
construction standards a home was
built to,” Steve Duke, LMHA.

 

It will be recalled that not long after Berkshire bought Clayton Homes, the community side of Clayton’s operations were spun off.  Per sources, “Warren” didn’t want to be seen ‘as raising the rents on grandma.

Yet thanks to the domino effect, it is apparently okay with ‘Warren’ when someone else raised granma’s and others site fees.  It is even better when a firm Buffett-led Berkshire owns gets a slice of the brokerage commissions involved. Then, in an ironic twist, Buffett can go on national television, and lament how some citizens become “roadkill” that should be cared for by a Big Brother government.

Buffett has also reportedly used some of his profits to help fund the protest groups – such as MHAction – as reported by the Golden States Manufactured-Home Owners League or GSMOL – see a report, linked here.

The net results?

Real- but artificially-sparked headwinds arise or are allowed to develop.  Lacking the time to dig beyond the surface, journalists in the contemporary media environment may not be able to properly spotlight the underlying causes or contributing factors to the issues that they report on.

So, hearing from residents or others that ‘mobile homes depreciate like a car goes unchallenged, even though there is evidence by the National Association of Realtors (NAR) 2018 research that manufactured homes can and do appreciate.  Cases like the ones these Gannett media stories reflect may indeed result in depreciation, if someone is forced to move quickly.  But that same loss of equity could occur with conventional housing too, given similar dynamics and a hasty sale.  Stating the facts, but absent all the nuances, can thus cause still more harm to potential sellers of a manufactured home, when they might rightly ask in the wake of such reports, ‘why would I want to be next in line for this kind of situation?’

 

The MH Industry’s Largest Post-Production Association…

Where is the Manufactured Housing Institute (MHI) on this or similar issues?  The Daily Business News on MHProNews asked the Arlington, VA based national association.  They are silent. Why? Could it be because some of their ‘big boy’ members benefit from such patterns?

Meanwhile the independents of the industry at large suffer. Who suffers most? The mom-and-pop ‘family’ operations, that may or may not realize what dynamics they have succumbed to, as this report from Iowa sadly reflects.

 

Metaphorical IEDs in Manufactured Housing

Buffett’s and his minions’ strategic moat tactics don’t require specific foreknowledge of precisely what will occur or to whom.  All they need to know is that when a domino is tipped over, other dominoes in the chain will follow.  See the illustration at the top of this article.

What the Atlantic’s report earlier this decade pointed to impacted not only independently owned manufactured home retailers.  It also logically harmed manufactured home communities, producers, lenders – anyone involved in the manufactured home industry business-supply chain.  ICYMI, or need a refresher, you can click on the hot-linked text-image box below for more details.

 

Examining Derek Thompson’s Atlantic Report on ‘Mobile Home’ Retail Market as Fastest Dying Business In America

 

What is occurring in Iowa is like a metaphorical improvised explosive device (IED) planted by a terrorist. Only these IEDs have an economic impact on people, whose personal or professional lives are just as disrupted as soldier’s would be when hit by an unexpected land-mine.

The industry’s once multi-decades successful business model has been disrupted. It could be rebuilt. #OpenMarkets, antitrust law and other solutions must be put into play to right the imbalances (see related reports, further below the bylines and notices).

 

ManufacturedHousingSHipmentsBloombergQuintFactoryBuiltRebuidRecoveryDailyBusinessNEwsMHproNEws

Click here to see the referenced document, quotes from Warren Buffett’s annual letter to shareholders that year, and a video with Kevin Clayton.

But until the necessary steps are taken to change the dynamics already in play, consolidators like Havenpark Capital will do what Buffett’s “Conquest Capitalism” arguably allowed it to accomplish.

And none of the Omaha-based Berkshire brands found in the Knoxville metro, or MHI would – or could? – respond to these concerns in the presence of their peers, who met in Tunica last week to discuss just such issues.

Tick-tock, tick-tock. That’s not just a clock, it’s effectively an improvised economic-explosive device that mimics IEDs.  How long before politicos in Iowa or elsewhere decide that they will step in to ‘fix’ the problems?

If so, will their political fixes only hasten the issues that caused Barbara Hames and independents like her to sell in the first place?  See the rent control report, linked here.

That’s the latest #NettlesomeThings from MH “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Sun Tzu – Ultimate Manufactured Home Freedom Alliance

 

Independent MH Communities, Retailers – NAMHCO’s Susan Brenton Says What Fueled Break from Manufactured Housing Institute (MHI)

State Level Shipment Data Continues to Flash Warning Signals for New HUD Code Manufactured Housing Sales

 

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

MHARR Urges Congress to Preserve DTS In GSE Reform Legislation DBN

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

 

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

 

 

 

Independent MH Communities, Retailers – NAMHCO’s Susan Brenton Says What Fueled Break from Manufactured Housing Institute (MHI)

March 30th, 2019 Comments off

 

NAMHCOlogoMHIbreakLogoIndependentCommunitiesRetailersSusanBrentonSaysWhatFueldBreakfromManufacturedHousingInstituteDailyBusinessNewsMHProNews

It is a principle of good medicine and good business that one must treat the underlying cause(s), and not merely the symptoms of an illness or problem.

 

The headline topic will follow this rapid thumbnail of mobile/manufactured home (MH) history, which will prove useful to new and longtime readers alike.  It will also tee up Susan Brenton’s insights in useful ways for industry professionals, investors, advocates, and researchers.

For decades, part of the business model of the mobile home industry – which later evolved into the manufactured housing industry – was that independent retailers sold homes that went either into ‘mobile home parks’ or onto privately property.

During those decades, while some MH community owners sold and/or rented housing, the more common practice was that they developed and then leased home sites to the buyers or owners of a mobile or later a HUD Code manufactured homes. The bulk of those home sales were made by manufactured home ‘dealers’ or ‘street retailers.’

New manufactured home (MH) communities sprang up, as other communities filled up.

MH Retailers and community owners alike benefited from that long-established business model. Note too that this early business model for the industry served and benefited consumers and MHC residents.

In the 1950s through much of the 1990s, MH Communities had to compete for the business of residents. The stories that have become more common in roughly the last 15 (+/-) years of communities closing, being sold off for big box stores or other forms of multiple-family housing redevelopment were not yet occurring. The related displacements of residents were thus not generating problematic events for those owners, nor vexing headlines for those in the industry. The organization of resident groups in MH Communities to ‘defend against’ their ‘landlords’ is a more recent phenomenon. Why? Because MH residents and MHC managers had an alignment of interests.

 

As long-time or ‘veteran’ industry professionals know, the development of new land-lease communities continued into the 1980s and the 1990s. It was after 2000 that the pace of new communities opening began to slow to a crawl, while community closures for a variety of reasons began to pick up steam, and make often sad news.

 

lowrygroveresidentprotestcredtmprnewsstanthonycasehighlightsbattleovercommunityownersrightsvsresidentsrights-dailybusinessnews1

Community closures like Lowry Grove sparked protests and headlines. But what has routinely not occurred is a deeper look at what has caused these troubling issues in the first place. Estimates on the numbers of community closures now runs into the thousands.  Meanwhile, consolidators are buying up properties from independently owned MHCs. 

DataCompMHVillageNewManufacturedHomeCommunityOpeningsClosuresManufacturedHomeIndustryResearchDataReportsMHProNews

Thousands of manufactured home communities have closed since roughly 2000. By contrast, relatively few new communities have come on-line. That combination of facts impacts industry, consumers, and government alike.  Affordable housing is being lost, but once again, the root causes of the issues are often misunderstood.

 

While somewhat simplified, millions of MH home owners and thousands of MH professionals that reflect back can see that pattern as an accurate reflection of what occurred.

In the 1980s, some may recall the S&L or savings and loans crisis.  There was turbulence in the housing and finance sectors, but not at the same level as occurred in 2008. There were peaks and valleys in the sales of new housing, including what by then was HUD Code manufactured homes.

 

ManufacturedHousingVsTotalCompletedHomesLegacyHousingS1FilingIPODailyBusinessNewsMHProNews

The use of this graphic here should not be construed to mean that Legacy agrees or disagrees with this thesis. That said, Legacy clearly believes in the future of the business, because they are raising capital to expand their retail base. It was part of their IR information.  This graphic shows the trend lines of both new MH shipments by years, and also the percentage of MH to conventional housing starts.  MH is underperforming on both levels.  The loss of thousands of independent MH retailers is one factor in that milieu. 

 

It was during the resurgence of sales and the production of manufactured housing in the 1990s that several states saw a significant percentage of new single-family housing stock construction were factory-built HUD Code homes.

There are those who say that easy financing fueled that surge in the 1990s. Beyond question, that played a role, because lending is always a factor in robust home sales.

But it is arguably too much to say that easy lending was the only factor. The quality and appeal of manufactured homes continued to evolve after the start of HUD Code homes on June 15, 1976.

The price advantage of manufactured homes over site-built homes remained steady in the 1990s. It was researchers for the Fannie Mae Foundation and Harvard’s prestigious Joint Center for Housing Studies that pointed to such various realities of increasing appeal, durability, energy and purchase cost-savings.  Based on an ever-growing need for new housing stock, those university and third-party level researchers began to project that the trend lines favored a continued growth of the housing market share for manufactured homes.

 

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

Why did Belsky miss his predicted date? Because it came before Buffett’s entry into MH? See the more detailed report and video, found here.

 

Belsky was quoted for a time in the literature of the Manufactured Housing Institute (MHI).  But a check of his name today reveals nothing on the MHI website.  Curious?

 

ManufacturedHousingInstituteLogoSiteSearchEricBelksyDailyBusinessNewsMHProNews


What Happened?

The two quotes from Belsky above have been pared by the Daily Business News on MHProNews. They should not be thought of as spoken by Belsky as one line after the other. Rather, those two pared thus reflect strong realities that researchers like Belsky recognized.  They are accurate sound-bites that drill down to essential points.

In the 1990s and into the early 2000, there were numerous lenders in the manufactured home space.  Even in the 1980s, there were financial services firms, such as Lenders Services Inc (LSI) or AGIC in cities like Tulsa, OK that acted as middle-men between those banks, S&Ls or other financial institutions and the authorized sellers of manufactured homes.

As the manufactured home repossession rout of the late 1990s and early 2000s occurred, numbers of those finance companies – for example, Ford Motor Credit or the Associates – exited the business. Unlike site-built housing, many of those manufactured home lenders never returned to serve the industry.

By 2003, when Warren Buffett led Berkshire Hathaway bought Clayton Homes, Oakwood Homes, and some associated lending units, the MH industry was down, but not out. As Kevin Clayton said in the video in the report linked here, their firm used to have a road show that met with investment capital sources to raise capital to finance manufactured homes via their own captive lender. At the time, Clayton wasn’t in first or second place among the top producers or sellers of manufactured housing, that was still Fleetwood and Champion.

With Buffett’s deep Berkshire pockets, Clayton Homes need to fret about raising capital to finance new home sales vanished for Kevin Clayton and his firm’s team. Clayton said in the video on the page linked above that it was like saving several weeks a year in time, just because capital and reporting demands had been dramatically reduced.

Wall Street’s taste for MH finance paper had soured by 2004, so Berkshire owned Clayton had more than one strategic edge in the marketplace.

After the 2008 mortgage/housing collapse, which somewhat followed the pattern that occurred in manufactured housing a decade earlier, new starts in conventional housing sank like a rock. So did the values of existing housing. As Belsky observed, credit is part of the lifeblood of all housing.

By the time that Tim Williams from Berkshire owned 21st Mortgage Corp issued the first of his 2 now infamous letters linked here, that cut off of lending effectively took out or ‘knee capped’ numerous independent retailers.  That must not be thought of as a once and done event, as insider tips have revealed that it has occurred on floorplan lending by 21st more recently too.

That loss of thousands of retailers, chronicled in part by the Atlantic, IBISWorld and others, disrupted manufactured housing in several ways.  What they never identified, that tips by insiders to MHProNews did, was what arguably was a key that sparked that collapse.

In no particular order of importance, the loss of independent retailers impacted the following:

  • harmed the interests of the independent producers of HUD Code manufactured homes that sold largely or exclusively through those independents. Several long-time producers were put out of business, why?  In part because of the cascade or domino effect of losing their retailers.
  • The loss of street retailers also harmed the interests of independently owned manufactured home communities (MHCs). Because most communities relied upon retailers to fill their spaces, when retailers vanished, so did many of those new arrivals into MHCs.
  • Needless to say, nearly all aspects of manufactured housing that supply the industry were harmed. From suppliers, vendors, service, utilities, financial services, installers, transporters, experts or consultants, etc.  Lose sellers, production is lost, and a downward spiral occurs. Who benefited?  Consolidators.
  • The loss of independent retailers also harmed the interests of consumers and residents in manufactured home communities. Consider this point, among many that could be listed.  So long as a community is at or near capacity, much like a conventional housing subdivision, the only way to ‘get in’ is to buy an existing home.  That protected the value of those home owners.  When new communities are no longer were being built at the historic pace, and existing communities’ lost residents for a variety of reasons, imbalances occurred.
  • Those imbalances harmed the interests of most independently owned MHCs, and it harmed the interests of the residents in those communities too.
  • Until more land lease communities began to sell their own homes, vacancies meant that their property values were reduced.  These factors harmed consumers and independents, but could be construed to have made property values lower, and thus aided in the consolidation of communities into the hands of consolidators.

 

While there is more to that historical outline, that is sufficient to set-the-table for the comments of Susan Brenton to other independents Thursday afternoon, 3.28.2019.

 

What Susan Said…

Susan_BrentonManufacturedHousingCommunitiesAZ-DailyBusinessNewsMHProNewsNAMHCO

Brenton wears more than one hat, including duties for the new NAMHCO trade group.

Susan Brenton from the National Association of Manufactured Housing Community Owners (NAMHCO) shared several examples of issues that from her perspective and that of her community owner/members that the Manufactured Housing Institute (MHI) had failed to resolve for years.

In some cases, per Brenton, there were issues that she raised with the Arlington, VA based MHI that they were uninterested in addressing.

Let’s look at an example she gave.

While MHI is posturing with their members to this day that they are working with the Government Sponsored Enterprises (GSEs) to get more lending, NAMHCO has taken that ‘bull by the horns’ and began making a direct effort.

In doing so, they learned that locally based team members of Fannie Mae didn’t even know what manufactured housing was.

That’s stunning, given that the Duty to Serve (DTS) manufactured housing became federal law, in good measure though the efforts of the Manufactured Housing Association for Regulatory Reform (MHARR) to get that into the Housing and Economic Recovery Act (HERA) of 2008.  Rephrased, more than a decade after HERA and DTS became law, and Fannie Mae officials that Brenton and her colleagues met with had no clue what a manufactured home was?

That speaks volumes.

That also begs these questions. How can the GSEs claim to be fulfilling their Duty to Serve Manufactured Housing when their own team has examples of employees unaware of what our industry does?  How sincere can the GSEs be at fulfilling the law, when their staffers have so little understanding of the industry that they are supposedly going to serve as mandated by federal law?

 

MHARRMarkWeissIfCongressHadMeanttheDutytoServeToBeOptionItWouldNotHaveCalledItADutyDefintionofDutyIsMandatoryResponsibilityDailyBusinessNewsMHProNews

 

Another discovery Brenton shared with independent retailers, producers, and other attendees on Thursday was the following. There were potential avenues for ‘carve outs’ from the Consumer Financial Protection Bureau’s MLO rules that MHI was reportedly disinterested in addressing. Brenton was reportedly told by their staff that MHI’s plate was too full to consider working with another group Brenton and her colleagues encountered that was doing seller financing.

MHI was too busy to consider working with them, even though Brenton and their communities were dues paying members.

Out of frustrations like those that clearly harmed the interests of independently owned communities, community associations broke ranks from MHI.  Here is how Neal Haney put it.

NealTHaneyNAMHCOWhyBreakawayfromManfuacturedHousingInstituteMHI

Once the rules of engagement and methods used by an opponent are better understood, then one can often predict what will follow. 

 

It remains to be seen what NAMHCO’s direct lobbying efforts with the GSEs will produce. But at least an effort is being made.

What in hindsight is increasingly clear is that the ‘smoking gun’ of the letter by Williams at 21st not only harmed the interests of independent retailers and producers of HUD Code homes.  It arguably likewise harmed the interests of independently owned communities, residents, lenders, and others in the industry supply and services chain.  Never forget that even U.S. Bank, who was doing profitable and successful lending in MHVille post 2003, finally exited the business after MHI failed to head of the implementation of the rules of Dodd-Frank.  U.S. Bank cited low sales volumes and the regulatory risks from making those loans.  Other examples could be named, but that makes the point.

 

FixMHIndustryTricksSpecialMeetingTunicaManufacturedHousingShowDailyBusinessNewsMHProNews

Some Takeaways from Fix the MH Industry Tricks Meeting

We will return to some of the other lessons and insights from Thursdays “Fix the MH Industry Tricks” meeting in the near future.  But for now, let’s note the following ones.

The school of hard-knocks from the domino effect of what Berkshire brands arguably caused as outlined in the account here is one that continues to be unpacked. Millions of residents, and thousands of independent owned businesses have been harmed.

Meanwhile, Arlington, VA based MHI did…what?  They certainly appear to have taken the Omaha-Knoxville party line. Whatever seemed to be contrary to that Omaha-Knoxville-Arlington axis’ goals went unaddressed.  That’s not just true for communities, it is true for retailers too.

 

EnhancedPreemptionMHIWebsiteSearch

ManufacturedHousingAssociationRegulatoryReformMHARREnhancedPreemptionDailyBusinessNewsMHProNews

Some pundits, such as blogger George F. (F?) Allen have attempted to mischaracterize the work of MHI and MHARR. MHI clearly says of themselves that they represent “all segments of factory built housing,” that means retail, communities, lenders, suppliers and the like, not just producers. By contrast, MHARR clearly says that their focus is on the interests of the producers of HUD Code manufactured homes. So while MHARR has an indirect interest in lending, communities, or retail, that is not their mission. That said, MHARR members and leaders have voted to support the establishment of new post-production groups that would faithfully represent the interests of retailers, communities, and other segments of the industry. Allen’s characterization is arguably false, erroneous, or deliberately misleading. What is sadder, perhaps, is that Allen and Spencer Roane claim to represent the interests of communities. If so, why don’t they loudly and proudly call out MHI and Omaha-Knoxville for the ways that they’ve harmed other communities, and independents at large?

 

Brenton told the retailers, independent producers of manufactured homes, and the other interests represented Thursday at the “Fix the MH Industry Tricks discussions that she absolutely saw the value to creating a new non-production trade group that retailers and others could participate in.

What she implied was clear, as Haney or MHI award-winner Marty Lavin has previously said. If the interests of the big boys don’t align with those of the independents, it is only the big boys that benefit from MHI.

 

SoTheAssociationMHIIsNotThereFortheIndustryUnlesstheinterestsoftheBigBoysJointheIndustry'sMartyLavinMHIAwardWinnerQuoteMHProNews

MHProNews looks at the facts, considers the sources, and follows the evidence. MHI earlier last year, and for years before, MHI routinely replied promptly to all inquiries. But since we’ve spotlighted the problems and concerns, they’ve gone silent. Why? If the facts are on their side, why not make offer a cogent explanation?

 

Closing Notes of Keen Importance – Who Didn’t Come

Despite being personally invited to attend, neither Kevin Clayton, Joe Stegmayer, Tim Williams, Tom Hodges, or any MHI staff leaders opted to attend.  Why not?

 

EmailKevinClaytonHUDTimWilliamsMarch222019

These are some of those who have been invited to attend. We blocked out the specific email address, to respect their professional privacy. But the company or organizational names are shown on the above.

 

They were given the specific opportunity to explain or debunk to the industry attendees their respective views regarding the various allegations made by MHProNews, MHLivingNews, MHARR, NAMHCO, and a variety of others.  Their silence is their constitutionally protected right. But their silence also leaves the record of our publishing unchallenged. Our allegations stand on the merits of their own words, documents, follow-the-money trail and trend lines, plus that Kevin Clayton video evidence.

Two ‘publishers’ of MH industry news were also specifically invited by our publisher to attend the “Fix the MH Industry Tricks” meeting. One of those two was Darren Krolewski of MHInsider.  Apparently coming and perhaps having to write about the meeting wouldn’t fit their pro-Clayton, pro-MHI, pro-big boy narrative?

Maybe that is why their magazines go largely un-picked up at Tunica and elsewhere?

MHInsiderDailyBusinessNewsMHProNewsTunicaShow2019Day2

A photo of another rack at Tunica appears almost untouched. The industry’s pros, given a choice between fluff and reality often chose the real deal.

 

The other publisher specifically invited was one that privately called Clayton “evil,” but he nevertheless said he didn’t want to buy into the concerns over antitrust and other legal or MHI related issues.  That same publisher that thinks that Clayton is evil” said he wants to get along Clayton and MHI, and gladly publishes only “fluff” that makes the industry “look good.”

But how does one cure a problem who’s root causes are largely going unaddressed? Once more, one is left with the medical or good business practices analogy mentioned at the top of this article.  If the only thing that is dealt with are symptoms, then the core issues will continue to fester.

 

LATonyKovachHenryFordQuotesPrettyPicturesAchieveGoalsDailyBusinessNewsProNews

Finally, while not specifically invited, other industry bloggers and writers failed to make the “Fix the MH Industry Tricks” scene. Where was George F. (F?) Allen?  Where was Spencer Roane, Kurt Kelley, Suzanne Felber, or others?  Did they not want to hear accounts like those of Brenton, that might shake up their “inclusive,” self-serving, and ‘happy talk’ industry views? These are not meant as personal slams against any of those mentioned, who can be very pleasant people. Rather, these are valid questions as to what drives those that publish content that industry readers are supposed to ‘learn’ from.

One of those that wasn’t able to attend that was among those that said they wanted to said this. ‘You guys are the only publication [MHProNews] that deals with the realities of manufactured housing.  Thanks for telling it like it is and standing up for the [interests of] independents in the industry.’

As the above should also reflect, standing up for independents is also standing up for the legitimate rights of consumers. When the system is rigged, there are a variety of consequences that arguably harms taxpayers, potential and current manufactured home owners, plus the businesses that seek to serve them.

That’s this Saturday’s manufactured home “Industry News, Tips, and Views, Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

 

MH IDEAL, Understanding Manufactured Housing’s Choke Points, Tunica Show Day 3

 

Warren Buffett Urges Government Care For People Who’ve Become ‘Roadkill’ – Video, Analysis

Trump Administration Move on Housing Financing Draws Sharp Manufactured Home Association Response

Clayton Homes Insiders Tips – After Birmingham ‘Fiasco,’ Clayton Pivots Back to Tunica Show – Day 2 Insights

Attraction Marketing, Appealing to More Cash, Good Credit Customers into Manufactured Homes

Affordable Housing Crisis Rages, Sages Sing Manufactured Home Praises, Fix the MH Industry Tricks – Easy as 1, 2, 3

Tunica Manufactured Housing Show, MH Industry Pro Feedback, Day 1

 

“The Illusion of Motion Versus Real-World Challenges”

 

Independent National Manufactured Housing Post-Production Association Takes Major Step

 

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

 

 

 

 

 

 

 

 

 

 

 

 

 

Fannie Mae, Freddie Mac Conservatorship Draws Secretary Carson’s Broadside, Plus MH Stock Updates

March 28th, 2019 Comments off

CNNmone3.28.2019ManufacturedHomeStocksMarketsReportsMHProNewsHUD Secretary Ben Carson sounded of on important topics today, including Fannie Mae and Freddie Mac.  On a day when manufactured home tracked stocks saw more gainers than losers, the Russell, Dow, NASDAQ, and S&P all rose, we’ll take a peek at what the good doctor had to say about the Government Sponsored Enterprises (GSEs) and related.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

CNNFoxNewsLeftRightMediaBiasDailyBusinessNewsMHproNEwsSharylAttkisson

MHProNews looks at issues from a wide variety of perspectives.

Select bullets from CNN Money…

  • Lyft IPO priced at $72 per share
  • That makes the second biggest ride-hailing service in the US valued at around $24 billion
  • A history of Lyft, from fuzzy pink mustaches to global ride share giant
  • Stephen Moore wants the Fed to take a startling step: Immediately slash interest rates
  • HUD wants answers about Twitter and Google ad practices
  • Goldman Sachs made 220 million reporting errors over a decade, UK regulator says
  • Stocks float higher as blockbuster quarter nears finale
  • US charges Facebook with housing discrimination in ads
  • Twitter is considering labeling Trump tweets that violate its rules
  • Wow Air ceases operations, leaving passengers stranded around the world
  • Investing for profit — and saving the planet
  • On-demand companies rewired our lives. Now, they must survive Wall Street
  • Shopping Content by CNN Underscored
  • These $79 earbuds are an affordable alternative to AirPods
  • Wells Fargo CEO Tim Sloan steps down suddenly
  • Casper’s new strategy: Move beyond mattresses
  • Business frustration with Brexit chaos boils over
  • What AT&T, Comcast and Verizon are doing about robocalls
  • Watch out, Alexa. Artificial voices are starting to sound just like humans
  • These people do not exist. Why websites are churning out fake images of people (and cats)
  • Fake video is coming. The US government is racing to fight it
  • What is a deepfake, explained
  • Amazon expands in Austin with 800 new tech jobs
  • Volkswagen’s vast factory network will soon use Amazon’s cloud
  • The secret squad of PhD economists giving Amazon an edge
  • Amazon will no longer dictate how sellers price their products
  • Its grocery plans go way beyond Whole Foods

Select Bullets from Fox Business

  • Wells Fargo CEO Tim Sloan to retire
  • Warren Buffett blasts class-action real estate suit accusing firms of ‘conspiring’ against sellers
  • Why MLB’s free agent market collapsed despite record Trout, Harper contracts
  • Chicago bills Jussie Smollett $130K for hate crime investigation costs
  • How Michael Avenatti spent his fortune, while allegedly dodging taxes
  • Low-salary jobs that pay off big in retirement
  • Estate and inheritance tax guide: The best and worst states to die in
  • US mortgage rates post biggest weekly drop in decade
  • Devin Nunes: Submitting criminal referral against FBI, DOJ over Russia probe
  • Fannie, Freddie conservatorship is ridiculous: HUD Secretary Ben Carson
  • Bed, Bath & Beyond fires workers, declines to provide total layoffs
  • Wisconsin Powerball winner faces massive tax tab: A look at the actual jackpot value
  • Trump administration wants to kill ObamaCare. What happens if it does?
  • Lyft IPO: 5 things to know
  • Warren targets America’s family farmers with plan to bust up big agribusiness
  • Walgreens joins CVS in selling CBD-infused products in select stores
  • One in 7 patients get surprise medical bill from in-network hospital: study
  • Tommy Hilfiger joins Gap, Ralph Lauren and Lord & Taylor in closing its Fifth Ave flagship store
  • Amy Klobuchar dives into 2020 policy with $1 trillion infrastructure plan
  • Kennedy: John Brennan was the ‘craziest bat in the barn’ during Mueller probe
  • Varney: It’s Trump’s time to counter punch the media
  • Green New Deal fantasy-nightmare: Dems show true colors in 0 vote
  • Not many signs of recession: Bob Doll[overlay type]
  • Not many signs of recession: Bob Doll
  • How technology is improving seniors’ lives
  • There was a cabal at the Department of Justice: Rep. Doug Collins
  • Jersey Mike’s to donate all sales to charities on ‘Day of Giving'[overlay type]
  • Jersey Mike’s to donate all sales to charities on ‘Day of Giving’
  • Powerball $750M lottery jackpot: Here’s the tax damage
  • Oil billionaires help fund state, local governments in Oklahoma
  • Why it is important to have a wil

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance3.282019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

 

FannieMaeFreddieMacConservativeDrawsSecretaryBenCarsonsBroadsidePlusMHStockUpdates

 

Freddie and Fannie have been in conservatorship for going on 12 years now – that’s ridiculous,” Housing and Urban Development (HUD) Secretary Ben Carson told Fox Business’ Maria Bartiromo.  “It puts the taxpayers at additional risks.”

 

 

Following a memo by President Donald J. Trump, Carson said HUD, the White House, and Treasury Department, would work to preserve the American dream” while protecting taxpayers.

We need to learn from the things that have happened before,” Carson said. “We need to understand, for instance, that putting people into a house that they can’t afford is not doing them a favor; they lose the house; they lose the credit and they lose their future options. We have to find better solutions for that. And wise people learn from mistakes.”

The report notes that housing has been a weaker spot in the U.S. economy.  As usual, that’s the kind of comment that perks up the eyes and ears of the Daily Business News on MHProNews.  The industry is badly underperforming.  A gathering of industry professionals following the Tunica Show agreed on that point, and others.  More on that meeting of industry minds in the days ahead.

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

3.28.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloomberg-MHProNews

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Tunica Manufactured Housing Show, MH Industry Pro Feedback, Day 1

March 26th, 2019 Comments off

 

2019TunicaManufacturedHousingShowMHIndustgryProFeedbackDay1DailyBusinessNewsMHProNews

There is always something far more personal to those face to face contacts with professionals across the span of the industry.

 

Some of the things heard today, in no particular order of importance, from those at the Tunica Show were:

  • The mood was generally good.
  • Builders still report several weeks of orders in their pipeline.
  • It is time for public days, not just trade days.
  • It is time for a new venue.

 

  • While some were perhaps a bit cool towards the MHProNews team, that was from sources perhaps to be expected.
  • The feedback from independents was strong and encouraging. Examples:
  • I read what you publish every day. Thank you [MHProNews] for being a voice for the independents of our industry.’
  • If it wouldn’t be for what you [MHProNews] publish, the majority of what the rest are saying is the same old, same old.’

 

  • You [MHProNews] are like the MH Industry’s Fox News, fair and balanced.’
  • I can’t thank you [MHProNews] enough, and several of the independents I know feel the same.’
  • Builders said that getting enough labor was a hurdle.
  • Financing was described as a challenge.

 

  • Placement and zoning issues came up, as fewer places are accepting or allowing HUD Code manufactured homes.
  • There is a broad disappointment from most independents about the Manufactured Housing Institute (MHI), but in fairness, some of those who were cool were likely big MHI fans.
  • There are a dwindling number of independents, and the time to act to change that dynamic for the better is now.
  • Only one person came up to try to dispute the concerns of market manipulation, but that party had clearly not read all of the key items, watched the key videos, or looked at the same document trails. To paraphrase that source, ‘I disagree with your conclusions about the extent of market manipulation, but I do agree that Clayton [Homes] is evil.’ That same party said, The industry needs 21st, for only they will buy some of the paper that other [lenders] don’t.’  That said, he also stated that there were numbers of article he had not read. That last point is a straw man argument, because even if the FTC/DOJ would break up 21st and Vanderbilt, that would just open the industry up for more competition, not less.

 

StrawmanArgumentMisrepresentingArgumentMakeITeaseirToAttackDailyBusinessNEwsMHPrOewns

 

There was a brisk, at times heated discussion with that last party and our publisher/consultant, L. A. ‘Tony’ Kovach, but it ended amicably enough.  Tony stressed what our articles have said, we don’t tell people who to do business with, and we don’t call for boycotts. That same party said that as a Libertarian, he was strongly opposed to the federal government stepping in and breaking Clayton up for antitrust or any other reason.  Let the industry compete with and beat Clayton, said that source.

It would be good if Clayton, 21st, MHI, Fannie Mae, and Freddie Mac each had one or more representatives – and it can be their attorney(s) – come to Session 1 of our Thursday 12:15 PM meeting. It would be great if they would be as robust in explaining their position on issues like what happened to the ‘Mobile Home Militia,’ or Heath Jenkins, and other reports that we’ve done. The ‘big boys’ have been directly invited, time will tell.

One MHI member that represents a big 3 company hustled over in the Resorts hotel to say, “I will be there” for that meeting.  That would be great to have that input – or others like it – during Session 1. For those who have any doubts that the market is arguably being artificially manipulated, or that MHI is purportedly failing on a range of issues, a respectful, candid discussion is welcome and healthy. Long-time readers know that we’ve been making that invitation for a public discussion and/or debate for years.  If it happened Thursday afternoon, it could be healthy.

As one state executive put it, ‘If they [Omaha-Knoxville-Arlington] could disprove your thesis, they would do so.’

To the party that thinks it wrong to use antitrust law, perhaps they need to go back and look at what happened in the aftermath of the AT&T breakup.  Antitrust laws exist to protect the free market.  When voices across the left-right spectrum are calling for antitrust action against a range of goliath companies, why shouldn’t MH Industry independents want their playing field leveled too?

BTW, some Clayton guys came up and hugged our publisher today, so let it not be said that everyone takes this personally.  Many get it that this is a professional discussion and analysis, and people often have to be separated or distinguished from the organization(s) they are with.

Separate wheat and chaff with all people and all things.

Of course, with the late scheduling of the “Fix the MH Industry Tricks” event, the turn out will be a fraction of the main show, and that is just fine.  We deliberately decided not to ‘compete’ with the main event and discussed that with Dennis Hill. We want to play fair, just as we want the industry’s independents to be treated fairly.

 

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

But the indications are that turn out will be higher than what occurred to start the launch of the NCC, MHARR, NAMHCO and other such trade organizations.  If so, that would be encouraging.

But this isn’t a numbers game at the start.  It is about having people with skin in the game that are serious enough to discuss with their peers the issues face to face.  From that there can be an effort to get ball rolling for a growth oriented post-production association.

P.E.P.  Protect, Educate, Promote.  Those are the three things that the industry’s post-production sector must robustly do.  MHI can talk or spin all they want to, but the shipment numbers tell the story.  How seldom they publicly attempt to refute false or misleading claims about the industry tells the tale too, doesn’t it?

 

P.E.P.ProtectEducatePromoteMHProNews

If an MH trade association does this repeatedly, time and time again, it will make a difference in public perception. We’ve seen this proven in local markets. See an example, one of several, linked here.

Those days aren’t over, but a new era could be about to begin.  A new post-production trade group could interface with NAMHCO, MHARR, NFIB, and others in ways that could arguably mitigate the harm done by Omaha-Knoxville-Arlington on issues such as DTS.

While it remains to be seen what NAMHCO will do in their community segment of the industry. NAMHCO has committed to participating in Thursday’s first meeting, along with MHARR, non-aligned, MHI members and others.

Be the turn-out modest or standing-room-only, it is the character and earnestness of the discussion that matters.  The American revolutionaries of 1776 started small, but rapidly grew.

The manufactured housing’s independents revolution is standing near its birth.

Among those who’ve committed, they’ve routinely said word to the effect that

  • You guys [MHProNews] are 100% right, the independents need their own pro-growth trade association.’
  • Tony, I don’t like email much, but I can’t thank you [MHProNews] enough for telling it like it is.’
  • Many who date back to the 1990s know all too well that with an affordable housing crisis, the industry should be doing several times its current output.

 

Clearing Up A Misunderstanding

As a closing point, there was a party that felt that our publisher’s comments about 3D tech or videos meant something other than what it does.  Sometimes people read or see something in a fashion that it was not said, much less intended. If 3D tech, quality videos, or fine websites was what the only thing necessary, then the industry would already be doing 500,000 of more new homes a year.  Here’s exactly how our publisher has said it.

 

RememberThisQuoteIrPrettyPicturesMHIndustryWillOnlyAchieveItsGoalsByResovingItsCoreIssuesLATonyKovachMHProNews

That’s not a slam on anyone, it’s the obvious truth, because Clayton Homes has done all of the above for years, and yet the industry is doing fewer shipments today than it was in 2003 when Omaha-based Berkshire Hathaway bought Clayton and Oakwood, and began to gobble up chunks of the industry. That’s reality.

Some don’t want to get into the trenches.  They don’t want the industry to be ‘divided.’  Pardon us, but the lines were drawn by others, not us.  If anything, we have been too moderated at first, hoping that the powers-that-be would change.  They made it very clear that they would not.  That’s their call, it is ours to take the matter to the next level.

The fact that only about 4 percent, per some third-party sources, of housing shoppers even consider a manufactured home is plenty of reason to realize that the industry has gone in reverse from the days when several states had 1 out of 3 new single-family homes was a HUD Code manufactured home.

Happier days, more profitable and opportunistic days can lie ahead. We are optimists, not pessimists. But it is unrealistic to not address what is, because only getting to the root issues will effect the cure.

Doctors don’t ignore symptoms, they look for the cause of as symptom, and seek the cure.

That will obviously not occur by doing the same things the same way they’ve been done since 2003.

As one HUD Code builder put it to our publisher, Tony, why would any independent retailer be a member of MHI?’

Good question, and some are perhaps regrettably beginning to ask that question of state associations, in cases where they are also becoming more openly Omaha-Knoxville-Arlington aligned. The independence of the state associations needs to be restored, but that too would be fostered by a robust national post-production trade group.

 

StrengthInNumbersBeStrongEnoughStandAloneYourselfEnoughStandApartWiseEnoughStandTogetherWhenTimeComesDailyBusinessNewsMHPronews

 

The fact that the HUD Code industry is underperforming historically is the acid test.  The rest are details and commentary.

Check in tomorrow with your email or hear on the Daily Business News on MHProNews for more meeting details, and how to RSVP to attend the sessions that begin Thursday at 12:15 PM. Attendees are encouraged to start arriving at 11:45 PM.

 

MHARRJan2019HUDCodeManufacturedHomeProductionShipmentReportDailyBusinessNewsMHProNews

2018-12-10_0949SkyChampionManufacturedHousingShipmentHistoryDailyBusinessNewsMHProNewsNov2018

 

That’s this evening’s snapshot of manufactured home “Industry News, Tips and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Lesli Gooch, PhD, Manufactured Housing Institute EVP Reveals DTS Financing Con Job

Manufactured Housing – Easy as 1, 2, 3

Fact Check, Darren Krolewski, MHInsider Claim on 2019 Louisville Show Attendance

Speak No Evil, Only Evidence. Tunica Show, Feds, Clayton, 21st, MHI, MHARR, Public Debate, and You

Urgency Grows, Another City Prepares Ban on Manufactured Homes

Smile! You’re on Candid Camera! Security, Casino Hotels, and Fix the MH Trick$ Tunica Event

Cha-Ching! Manufactured Housing Made Simple in 2019

“What Are We, Chopped Liver?” MHI Member December 2018 Reactions

 

Subsidized Housing vs Manufactured Homes, Community Owner Marge Clark Sounds Off

 

Fix MH Industry Trick$ – Special Meeting at Tunica Show

HUD Proposes Rule to Adopt EPA Formaldehyde Standards — Eliminate Formaldehyde “Health Notice”

HUD Secretary Carson HUDdle Conference Features Manufactured Housing Association for Regulatory Reform Engagement on Zoning, Placement, and Financing

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

 

 

 

 

 

 

Lesli Gooch, PhD, Manufactured Housing Institute EVP Reveals DTS Financing Con Job

March 26th, 2019 Comments off

 

LesliGoochPhDphotoManufacturedHousingInstituteLOGOEVPExposesDutyToserveManufacturedHomesConJobDailyBusinessNewsMHProNews

When asked, manufactured home industry members often say they want more and better lending options.  That’s especially true for personal property, home only, or ‘chattel loans.’  Prospective consumers want more affordable lending. Existing or current manufactured home owners may want to refinance higher rate loans with a Berkshire Hathaway lending brand in order to get a lower interest rate.  So there are an array of those who want better lending options.

 

It is debatable if Executive Vice-President (EVP) Lesli Gooch – who some speculate is the heir apparent to Richard ‘Dick’ Jennison as the next Manufactured Housing Institute (MHI) president – consciously or unconsciously intended to reveal the ‘Big Con‘ in manufactured housing finance with her new article in MHVillage’s MHInsider. 

Regardless, this Daily Business News on MHProNews fact-check will unveil the latest purported fabrication that mixes fact with fiction.  She claims that MHI is actually trying to get more financing options for the industry’s independents.  Is that demonstrably so?

First, let’s see what Gooch said in the March/April issue of the clearly pro-MHI MHInsider.

The purchase and securitization of chattel loans by Fannie Mae and Freddie Mac (the Enterprises or GSEs) is crucial to our industry, and MHI has engaged in years-long effort to push the Enterprises to purchase chattel loans as soon as possible.”  The first part of that sentence from Gooch’s column is a widely agreed to statement, but the accuracy of the second part (i.e.: if MHI is truly pushing for chattel loans by the GSEs “as soon as possible”) is what this fact-check will explore.

With housing finance reform expected to be on Congress’ agenda in the coming year, MHI has positioned the industry well,” wrote Gooch.  Positioned the industry well, for what? Let’s look.

One of MHI’s top priorities for 2019 is to continue to improve the supply of manufactured housing financing, including further progress toward the creation of a secondary market for chattel loans,” said Gooch.

  • If so, why did MHI’s former Executive Committee Chairman Tim Williams say that pursing duty to serve was a waste of time” – in his own prior written statement to MHProNews?
  • Or more recently, Paul Barretto with Fannie Mae confirmed that they had received no data to support chattel loan performance from either of the big two Berkshire Hathaway owned chattel lenders, Vanderbilt Mortgage and Finance (VMF), or 21st Mortgage Corp, which has the same Tim Williams as its president. Doesn’t those facts alone mitigate against Gooch’s bold claim?
  • If the two largest MHI lenders wanted the GSEs to do lending ‘as soon as possible,’ then why didn’t they give their loan performance data as Fannie and Freddie requested?

MHI can’t logically claim to have it both ways.  One or more at MHI in key roles are not being accurate or honest. Other MHI lenders, by the way, did reportedly give the GSEs their loan performance data.  So why didn’t 21st or VMF?  It last factoid should be underscored.  It must never be misconstrued that what some do at MHI, Clayton, 21st, et al is automatically a bad reflection on others. It’s not.  MHProNews strongly believes in separating wheat from chaff.  Both are found wherever you look.

Note that neither MHI, Clayton Homes, nor Tim Williams/21st have denied our published reports in person, or in writing. MHProNews routinely gives them an invitation to do so.  Is that so because there are witnesses and documents that back up our evidence and fact-based assertions?

 

 

Follow the Money

Recall that an inside source recently told MHProNews about an “unholy alliance” to divert Duty to Serve (DTS) manufactured home lending by the GSEs lending options away from most manufactured homes. Gooch claims in MHInsider and elsewhere that MHI is working to expand lending. Then how do they explain that MHI signed onto a public letter recently that asks FHFA to ‘go slow’ on changes with the GSEs?

That letter MHI signed onto with other associations outside of manufactured housing was reported by the mainstream media. What that joint letter says and what Gooch claims are mutually exclusive. MHI can’t have it both ways, logically.  Posturing or claiming something are not the same as doing what’s claimed.

Furthermore, MHI worked behind closed doors with the GSEs to get financing that ended up only useful for the Clayton Homes-backed ‘new class of homes.’ Repeated requests by MHARR or MHProNews to have those minutes released were not honored. If MHI truly wanted to expand lending with the GSEs, then why didn’t they work with the Manufactured Housing Association for Regulatory Reform (MHARR) to get lending on all manufactured homes, not for just a select few manufactured homes?

Rephrased, when viewed against a variety of known facts and evidence there is a gross lack of logic in what Gooch claims, and what the Arlington, VA based MHI trade association has done in recent years.

Recall that a GSE prior “MH Select” program was a dismal failure in the marketplace, per sources at a GSE. Note too that the new breakaway from MHI, NAMHCO hired a lobbyist in part precisely because they don’t think MHI is working to get robust GSE chattel lending for communities, or others. There is scant evidence – beyond mere words – that MHI has tried to get robust chattel lending by the GSE, but considerable evidence to the contrary.

FollowThe MoneyPayMoreAttentionToWhatPeopleDothanwhatTheySaySpySea72MartyLavinYachtManufacturedHousingINdustryProMHProNews

Ask yourself. Do these Marty Lavin dictums apply in this case?

Berkshire Hathaway Annual Report

When you follow the money, for years, the annual Berkshire Hathaway annual report reflects the fact that much of the profits from manufactured housing that they earn are from financing and financial services. Is the industry, or clear and objective thinkers interested in affordable manufactured homes, really going to believe that the Berkshire brand lenders at MHI want to lose profits by having the GSEs compete with VMF and 21st?  Wouldn’t VMF and 21st lose millions of dollars a year if consumers switched their loans from higher interest rates with Berkshire Hathaway lenders to lower rates with a GSE, if competitive rate chattel loans were available for any manufactured homes?

It bears mention that at a San Antonio MHI meeting in 2017, in front of a relative small group of MHI members, Tim Williams specifically said to those MHI members that they (21st, VMF) didn’t want to see the GSEs get the best credit, and leave the Berkshire lenders with lower credits scores and lower profits.  That too contradicts Gooch’s claim.

Thus including from their former chairman, there is plenty of evidence that stands in stark contrast to what Gooch claimed.  Darren Krolewski – publisher of the MHInsider and Lesli Gooch were both at that same San Antonio MHI meeting, per sources.  They where there when Williams from 21st made the statements noted herein and above.  It seems unlikely that they didn’t hear or didn’t know about Williams statements, or the fact that Williams himself admitted that the had given no data to the GSEs.

All of those points contradict Gooch’s claim.  Indeed, it makes appear that her and Krolewski seem to be de facto ‘in on a con job’ – part of the problem, instead of part of the solution.

That leaves honest manufactured home industry members with this vexing conclusion.  Gooch and MHInsider – the first three letters of the publication’s name spell MHI – are deliberately trying to con or head fake the industry into believing something other than what MHI and the Berkshire brands are doing.  Logic alone suggests that Omaha and Knoxville based operations would purportedly thwart rather than promote lending that competes with what 21st or VMF offers.

If Krolewski, who has his own documented challenges with sharing facts accurately and honestly, or:

 

  • Lesli Gooch,
  • Tim Williams/21st,
  • the GSEs,
  • Joe Stegmayer, MHI chairman,
  • any other officials from MHI,
  • their attorneys,
  • or one of the other Knoxville-metro based Berkshire Hathaway brands want to provide evidence of their work that prove otherwise – not mere claims that are easily debunked – let them come to Session 1 of Thursday afternoon’s Fix the MH Industry Tricks meeting. Learn more linked there, or at the links found below.

 

KennyLipschutzHomeFirstCertifiedCommunitiesMHINCCmemberPuzzlesWhyMHIDailyBusinessNewsMHProNews

Ask yourself if this MHI member’s prior statement has been born out in fact-checks like this one?

 

The industry will arguably not achieve its tremendous potential for profitable and honorable growth until a pro-financing, pro-growth national association option exists to MHI.  Learn more at the links, above and below.  Make or modify your plans to attend the historic meetings Thursday afternoon, in Tunica MS near the trade show location, and after the main Tunica Show events are concluded.

#MobileHomeMilitiaWalkaMileAvoidFightWhenOneStartsDontBackDownAnInch

See ‘You’ve Gotta Have Swagger. ‘  You don’t have to be in the #MHM to attend. Click here to RSVP by saying RSVP in the subject line with your name, title and contact information.

That’s what’s new from manufactured housing most read and most trusted “Industry News, Tips, and Views Pros Can Use,” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

DTS Manufactured Home Lending Committee Member Says MHI in “Unholy Alliance” to Divert Needed GSE Support Away from Manufactured Housing

Manufactured Housing – Easy as 1, 2, 3

 

Profiting & Correcting – Manufactured Housing Traps, Pitfalls and Swindles

 

Rocking Manufactured Housing Shows, Events, and Marketing Promotions

 

In Manufactured Home Marketing, Size and Results Matter!

Smile! You’re on Candid Camera! Security, Casino Hotels, and Fix the MH Trick$ Tunica Event

“Out-Performing the Market” Robert Robotti, Value Investing, and Manufactured Housing

 

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

 

“The Illusion of Motion Versus Real-World Challenges”

 

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

 

 

 

 

 

 

Fed Caves, Rates Hikes, Balance Sheet, Smoother Sailing Ahead? Plus Manufactured Home Market Updates

March 20th, 2019 Comments off

CNNmone3.20.2019ManufacturedHomeStocksMarketsReportsMHProNewsFederal Reserve Chairman Jerome Powell announced what several observers are referring to as a ‘cave,’ giving into what investors and President Donald J. Trump has been pushing for over the course of several months. On a day when the broader market slid, and more losers than gainers on the manufactured housing tracked stocks covered here, the Daily Business News on MHProNews focuses this evening on statements and insights from the Fed.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

2019-03-20_1720CNN-CNBC-Fox-BloombergMarketReportDailyBusinessNewsMHProNews

Besides original analysis and industry focused commentary, MHProNews curates content across the left right spectrum.  We take a “Wheat and Chaff” approach, keeping what’s good, toss out what’s not fit for human consumption. 

 

Select bullets from CNN Money…

  • The death of the American pension
  • Pensions are disappearing. The government just made it easier for employers to get rid of them
  • Lyft, Uber, Pinterest: What this legendary investor thinks about the upcoming IPO parade
  • Fed signals no rate cuts are coming in 2019
  • It’s about to get a lot harder to stop violent videos from spreading on Facebook. Here’s why
  • One of America’s biggest oil companies wants to be ‘carbon neutral’ — eventually
  • US oil prices hit $60 a barrel for the first time since November
  • LIVE UPDATES Jerome Powell does not sound happy with Wells Fargo
  • How Europe is forcing Google to change
  • Elon Musk’s SEC fight nears its moment of truth
  • General Mills raised prices on cereal and yogurt. It’s working
  • Disney closes $71 billion deal with Fox
  • Ferrari and Lamborghini say ‘Not so fast’ on electric supercars
  • Quitting your job? Here’s how to write the perfect goodbye note
  • How Olive Garden made a huge comeback
  • Starbucks unveils two new designs for recyclable and compostable cups as it moves forward with efforts to make its products more sustainable.
  • Starbucks to test recyclable, compostable cups
  • Apple announces new AirPods with wireless charging
  • See the new faster, smarter iMacs
  • Apple unveils new iPad Air and iPad mini
  • Report: Apple and Goldman Sachs are releasing a credit card together
  • PERSPECTIVES Why Tesla needs Elon
  • Elon Musk’s SEC fight nears its moment of truth
  • Tesla Model Y: Elon Musk’s second electric SUV is here
  • Why the Model Y will be Tesla’s most important car
  • Elon Musk isn’t a liability to Tesla. He’s a ‘liability for himself’

Select Bullets from Fox Business

  • Federal Reserve signals no interest rate hikes in 2019
  • GM defends US investment following Trump jabs over Ohio plant
  • Trump has legal justification to implement auto tariffs: Report
  • Real estate firms accused of ‘conspiring’ to overcharge home sellers in class-action suit
  • World’s most expensive city in 2019 is a 3-way tie
  • Bill Gates just joined Jeff Bezos in ultra-exclusive $100 billion club
  • Kale rejoins the ‘Dirty Dozen’ list as one of the most contaminated with pesticides
  • US cities where housing costs take the least from your paycheck
  • Nebraska Governor: Worst flooding damage in our state’s history
  • Warren Buffett’s $1M March Madness bracket challenge, explained
  • Ford shifts $900 million investments in Michigan plants for new electric, self-driving cars
  • White House credits Trump policies for economic growth, slams far left proposals
  • Powerball $550M lottery jackpot: Here’s the tax damage
  • Katie Couric: How science can solve many of the world’s problems
  • Congress faster path for legalizing CBD in food, says outgoing FDA chief
  • Brexit delayed? PM May requests three-month extension, EU pushes back
  • Fox, Disney close transformative $71.3 billion deal
  • Joy Villa slams millennials: I’m ashamed of my people

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance3.20.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

Fed Gives Markets, President What Was Wanted — Rates and Balance Sheet Changes Announced

 

FedCavesRateHikesBalanceSheetSmootherSailingAheadPlusManufacturedHomeMarketUpdatesDailyBusinessNewsMHProNews

Per left-of-center CNBC…

·        The central bank says it will begin in May to taper the amount of proceeds it allows to roll off each month and will end the program in September.

·        The amount for Treasurys will drop to $15 billion in May. Under the current program, it is allowing $30 billion in Treasury proceeds to roll off.

·        The total of Treasurys and MBS once totaled more than $4.2 trillion and has been reduced by about $450 billion in the program that began in October 2017.

 

 

Part of the risk matrix includes Brexit and U.S. China trade talks.  Federal Reserve Chair Jerome Powell said that both Europe and China have slowed significantly. 

By comparison, the U.S. is doing far better.

 

 

The above noted, this has not been the only artificial headwinds that have buffeted the markets.  Sam Zell observed in 2017 that one can’t overlook the impact of politics on investing. 

If Democrats hold the House, and/or take the Senate and the White House, expect a sea change in the investment outlook. 

Make sure you check out our Robert Robotti report, below, along with other broader macro-market focused topics.

Related Reports:

“Out-Performing the Market” Robert Robotti, Value Investing, and Manufactured Housing

Beto Mania! Fox, MSNBC, CNBC Weigh-In 2020 Democratic Contender, plus Manufactured Housing Stock Updates

Historic Welfare Reform Can Spur More Worker Availability, Save Taxpayers, Expert Analysis – plus Manufactured Housing Industry Market Updates

 

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

3.20.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.